Kiev to mull sanctions against banks with Russian share

Date of publication: 15 03 2017, 15:30

The National Bank of Ukraine (NBU) and the country’s Security Service (SBU) are instructed to submit proposals on sanctions against banks with Russia’s share in funds within 24 hours, the press service of Ukraine’s National Security and Defense Council (NSDC) told on Wednesday.

On March 7, the NBU said it might initiate sanctions against the subsidiary of Russia’s Sberbank in the country if the Russian leading bank started providing services for holders of passports of self-proclaimed Donetsk and Lugansk people’s republics.

“The National Bank of Ukraine, the Security Service of Ukraine are instructed to analyze activities of Ukrainian banking institutions with Russian state banks’ share in funds, and to submit the relevant proposals, including on imposing sanctions on them, during the day,” NSDC Secretary Oleksandr Turchynov was quoted as saying by the press service.

On Monday, Ukrainian branch of Russia’s Sberbank said it appealed to law enforcement agencies after radical activists walled off its central office entrance in Kiev with concrete blocks. The situation exacerbated on Tuesday, with acts of vandalism against Russian banks’ subsidiaries spreading.

Earlier on Wednesday, Kremlin spokesman Dmitry Peskov said Moscow was concerned about the situation and could not understand the reluctance or inability of the Ukrainian authorities to stop vandalism.